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Thread: Fuel Prices.
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06-09-2022, 08:53 AM #976
Big Oil likes their profits. It's the last hurrah before the fossil fuel party ends. Don't ask me when the party ends, people keep predicting that the party is over, but it seems that oil execs are not investing money in new oil production or new exploration.
Paid $5.19 for 87 in Bend this week. Diesel is at about $5.69-$6.09 depending on what part of town you are in."We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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06-09-2022, 10:14 AM #977
Difference is where the money goes. Carbon tax goes to the government, and most carbon tax proposals also included tax rebates to offset that additional cost. If you cut your fuel consumption you could end up ahead financially, if you didn’t cut then you’d be behind.
With higher market prices, every consumer just ends up behind financially.
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06-09-2022, 10:27 AM #978Registered User
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Truckee CA almost at $8 for regular.
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06-09-2022, 10:33 AM #979Registered User
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https://www.epa.gov/renewable-fuel-s...-fuel-standard
Anybody ever hear about this? Apparently a jump in RIN prices is contributing to this energy crisis.
Also, on the same topic. The US is going to blend more ethanol (corn) fuel to help stabilize gas prices. Every 2nd news article talks about the upcoming worldwide famine. So we are going to put more bullshit corn gas in our cars, and not use said corn to help feed the world? Am i missing something?
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06-09-2022, 10:35 AM #980
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06-09-2022, 10:47 AM #981
Hadn’t heard about RIN before, but it appears D6 RIN is ethanol used in gas, and here’s the price chart:
https://www.epa.gov/fuels-registrati...ce-information
So if I’m interpreting correctly, even at the high of $1.50/gallon, it’s only adding $0.15 to a gallon of gas blended with 10% ethanol.
Regarding using corn for ethanol, I asked the same question in the Ukraine thread. Don’t remember the details exactly, but I believe it wasn’t the problem I thought it was, because of the way farm subsidies work; that there’s unused land that could be used to grow food or fuel corn if need be.
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06-09-2022, 10:51 AM #982Registered User
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RIN looks to be a nice little racket, just like TDR's in Aspen.
Also, crazy idea idea here. How about we reform farm subsidies in the US (even short term?) to make sure this farmland produces on its land (even just this summer?) instead of the field remaining fallow and paid to NOT farm it in the face of a global famine...
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06-09-2022, 11:05 AM #983
If you had an oil rig, it would probably be under contract to a drilling company, who would contract others, like mud loggers and engineers, electricians, mechanics, cementing specialists, drill pipe and drill bit leasing companies, fishing and other downhole services, physical chemists, geologists...
Meanwhile, the drilling company that pays you is under contract to the lease holder, or to an oil company that has the trucking/shipping/pipeline wherewithal get large quantities of oil from the hole in the ground or sea floor that your rig made...to storage or refinery or other processing facility.
Lots of moving parts. Lots of capital investment. Lots of people have to be in place for it to happen. You can make $$ out the ass, but you don't get to call your own shots.
Add to this you got burnt in 2020, the bottom fell out of the oil market and half of your clients went bankrupt and didn't pay you, and you got behind and paid slow... Now the banks don't want to loan you $$ to build more rigs...
Yeah. Not an easy business, nor one that can turn on a dime. That's why the US Rig Count looks like a ramp, and not a kicker.
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06-09-2022, 11:21 AM #984Registered User
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Yup, just reporting the absurdity of the near-town prices.
I'm in Reno weekly for ice hockey and lacrosse so I bring down 6x 5 gallon moto jugs to fill to use to fill the other cars and toys. I haven't bought Truckee gas except a few gallons in a pinch in a long time.
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06-09-2022, 11:54 AM #985
Still havent quite cracked $50 for a premium fill up yet in my new car yet. Have fun with your Ferd Efteenhundreds, America!
So long as trucks and SUVs still keep flying off of dealer lots, there's still plenty of room for gas to increase more.
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06-09-2022, 12:03 PM #986
Fuck gas, just snort cocaine and run everywhere!!!!!
https://www.newsweek.com/john-kenned...lation-1713912
Gas Prices So High It's 'Cheaper to Buy Cocaine,' Senator John Kennedy Says
Ya, it's all Bidens fault...
https://www.offshore-energy.biz/oil-...2-rystad-says/
Oil & gas firms’ profits set to smash records reaching $834 billion in 2022, Rystad says
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06-09-2022, 12:38 PM #987
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06-09-2022, 01:08 PM #988
So, you're already doing the cocaine thing?
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06-09-2022, 01:17 PM #989
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06-09-2022, 01:27 PM #990
You're correct in that it's global. You're wrong in that domestic drillers are in no hurry. They are scrambling to drill as fast as possible. Private lease efforts are skyrocketing. Drillers I know are doing everything they can to get after it. Was talking to a plug guy I know who's out in the oilfield right now. Was telling me that his companymen are stressing out because big bosses are telling them to drill and have spud dates to meet, BUT numerous rigs are sitting in the yards because they don't have the manpower any more. After we all got let go at the beginning of 2020, most of us in O&G had to find alternative lines of work, with a giant portion leaving the industry altogether. I know many who got into trucking. No intent of going back to the field unless the pay goes up significantly to deal with the usual bs of working in the field.
But yeah. They do have to make up for lost time these last couple years. These prices are actually saving one of my old clients who damn near didn't survive 20-21. He's hauling ass to get new wells drilled and re-explore existing ones, going deeper. Prices are high so they WANT to produce while things are up. Trust me. These Texas boys ain't holding back. That's OPEC's game.
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06-09-2022, 01:27 PM #991
I don’t think there’s going to be a “global famine”. Things are going to get worse for sure but it doesn’t have anything to do with the current increase in fuel prices. Stop fear mongering
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06-09-2022, 01:30 PM #992
Go Biden Go!!!!
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06-09-2022, 01:31 PM #993
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06-09-2022, 02:00 PM #994
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06-09-2022, 02:03 PM #995
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06-09-2022, 02:27 PM #996
“ And yet, according to David Beasley, the former Republican governor of South Carolina who now leads the U.N. World Food Program, that is what they imply: the possibility that, as a result of an ongoing food crisis exacerbated by the war in Ukraine, climate change and the continuing effects of the coronavirus pandemic, 323 million people are “marching toward starvation” as we speak, with 49 million “literally at famine’s door.””
https://www.nytimes.com/2022/06/07/o...raine-war.html
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06-09-2022, 02:46 PM #997Registered User
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06-09-2022, 03:50 PM #998
Forget fuel prices, a pint of cream at my local grocery is $7.99. Granted, it is organic cream. The conventional is only $5.49.
Because rich has nothing to do with money.
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06-09-2022, 04:10 PM #999Registered User
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And yet i still see everybody speeding and using a heavy foot while driving.
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06-09-2022, 04:17 PM #1000
I remember it was clarified at the start of this thread that no one was complaining about fuel prices....just complaining about those complaining about fuel prices....seems we've crossed that bridge and are now actually complaining about fuel prices and pointing fingers....no?
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